Supply Management
Supply management is different from supply chain management, though it can be considered a component of supply chain management. Conversely, where the supply management function is established as a C-level strategic effort, supply chain management is but one component of an overall strategic supply management approach. Supply management is a complementary discipline that encompasses the alignment of organizations, processes, and systems for strategic sourcing, contract management, supplier management, spend analysis to continuously improve global supply for best-value performance in support of the strategic objectives of the business.
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Famous quotes containing the words supply and/or management:
“If you have great talents, industry will improve them: if you have but moderate abilities, industry will supply their deficiency.”
—Sir Joshua Reynolds (1723–1792)
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—Lyndon Baines Johnson (1908–1973)